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Resources, estimates and outcomes

Financial outcome for 2006–07

The Museum's financial statements disclose an operating surplus of $3.650 million compared with an operating deficit for 2005–06 of $0.457 million.

The Museum's appropriation for 2006–07 was $40.026 million. The Museum also received a capital appropriation of $3.493 million in 2006–07 which related to the implementation of the Review of Exhibitions and Public Programs (2003).

Income statement

Revenue from non-government sources increased by $4.583 million. The main increases were in donated assets ($3.583 million) and interest ($0.287 million). The main donated asset recognised was the Aboriginal and Torres Strait Islander Art collection transferred from the Department of Families, Community Services and Indigenous Affairs (valued at $4.379 million).

Total expenses increased by $0.704 million. This was primarily due to increased depreciation expenses.

Balance sheet

The balance sheet discloses an increase in the Museum's net assets to $362.101 million. In 2006–07 there was an increase in the asset revaluation reserve following an independent valuation of the buildings of $4.839 million.

Cash as at 30 June 2007 totalled $2.194 million (30 June 2006: $0.820 million) and investments totalled $41.130 million (30 June 2006: $37.436 million). The investments primarily comprise reserves for depreciation and employee provisions.

Statement of cash flows

Net cash received from operating activities decreased by $1.337 million.

During 2006–07 the Museum received an equity injection of $3.493 million to implement the recommendations of the Review of Exhibitions and Public Programs (2003).

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